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20121108
20121116
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the economy into a recession. and late today, a top credit rating agency puts the odds of going off the cliff at 15%. plus, how g.o.p. economic policies could change as election day demographics change. that and more tonight on nbr! the u.s. economy would be driven into recession next year if the fiscal cliff is not solved in time. that's the warning again today from the congressional budget office. and the standard and poor's ratings agency said there's an increasing chance we will go over that cliff of tax increases and spending cuts. it puts the odds at 15%. still, s&p is optimistic about a solution, saying "the most likely scenario, in our view, is that policymakers reach sufficient political compromise in time to avoid most, if not all, potential economic effects of the cliff." both s&p and the congressional budget office warned unemployment would go over 9% by the end of next year if the cliff is triggered. those s&p comments hit the market in the last 30 minutes of trading, extending yesterday's sharp losses. the dow closed down 121 points, the nasdaq lost 41, and the s&p was off 17. t
. tom will be along later in the program. congress officially gets back to preventing the u.s. economy from falling off the fiscal cliff. while washington struggles on a fiscal cliff deal, what should you do about your portfolio? jeff applegate has some answers. he's chief investment officer at morgan stanley smith barney. and home depot hammers home strong gains and lays the foundation for a strong quarter ahead. that and more tonight on "n.b.r." it was another day of cliff- watching here on wall street today. investors and traders are waiting to hear what happens at an important white house meeting on friday between president obama and congressional leaders. they will be talking about ways to solve the so-called "fiscal cliff" dilemma. investors appear cautious about making any big moves until they know whether the cliff will trigger increases in capital gains and dividend taxes. the dow fell almost 59 points, the nasdaq lost 20, and the s&p was down five. meanwhile, in washington, congress returned to work for the first time since september. lawmakers face a long "to-do list," and g
credit rating on u.s. debt. right now moody's has a negative outlook on the u.s. economy. worries about a fiscal freefall, kept wall street stocks in check: the dow and nasdaq fell a fraction, while the s&p was up a fraction. american businesses are not only concerned about the fiscal showdown in washington, but also about corporate earnings. nearly all of the s&p 500 firms have reported numbers, and profit growth is the slowest since the recession in 2009. and the majority of firms are also reporting disappointing revenues. here's erika miller with a look back at the quarter, and a look ahead. >> reporter: earnings season is drawing to a close. and for many firms it's good riddance. nearly all of the s&p 500 have reported quarterly numbers, and according to s&p capital i.q., profits are up a measly 2%. thomson reuters and factset crunch the numbers slightly differently, and believe profits are actually down. the bigger concern is revenue growth. s&p has the most optimistic analysis with a 0.6% gain. the other two firms see negative growth. firms face an almost universal problem: a slow
's second-largest economy. he'll look ahead to the coming years and talk about the challenges chinese face. the communist party congress runs for seven days, then hu and other top officials will hand power to another group of new leaders. we'll get back to the story a little later. >>> cradle of culture. economic powerhouse. many enjoy the fruits of prosperity along the path to a new china, but millions are missing out. at a time of growing public discontent, members of the communist party are choosing their new leaders. "newsline" correspondents will report from the party's national congress. don't miss our special coverage, "china: the next generation" starting thursday, november 8th at 8:00 p.m. japan time, here on "newsline." >>> china is the world's second biggest economy and party members were watching what happened in the first. ramin mellegard joins us from the business desk. we saw many americans celebrating the re-election of president obama but it seems the mood was different on wall street. >> it really was. we're seeing the reactions following the elections. investors really c
funding for the pbs newshour has been provided by: ♪ ♪ moving our economy for 160 years. bnsf, the engine that connects us. and with the ongoing support of these institutions and foundations. and... this program was made possible by the corporation for public broadcasting. and by contribuionto yr ps stion om viewers like you. thank you. >> woodruff: for the first time in four years, president obama did not have to worry about re-election today. still, there was little time to savor tuesday's victory, in the face of a potential fiscal crisis at the end of the year. "newshour" correspondent kwame holman begins our coverage on this day after the election of 2012. >> reporter: mr. obama departed his hometown of chicago this afternoon for washington, his home for another four years. waiting for him: a still- divided congress now facing a critical lame duck session. the president made it clear in his victory speech last night that he thinks the country wants an end to gridlock. >> tonight, you voted for action, not politics as usual. ( applause ) you elected us to focus on your jobs, not ours.
on tonight's "newshour." major funding for the pbs newshour has been provided by: ♪ ♪ moving our economy for 160 years. bnsf, the engine that connects us. and by the alfred p. sloan foundation. supporting science, technology, and improved economic performance and financial literacy in the 21st century. and with the ongoing support of these institutions and foundations. and... this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> woodruff: with the election over, there's new talk in washington about finally coming to grips with taxes, spending and the deficit. the mammoth problem has been hanging over congress and president for many months, and now, time is running out. in just five days, lawmakers troop back to the capitol for a final, lame-duck session. and they are under mounting pressure to avoid going off the much-talked-about fiscal cliff. come january 1, the bush-era tax cuts will expire as will a 2% payroll tax cut that was passed in december of 2010. at the same time, large automati
of china's central bank knows how connected the global economy is. he said it would have an impact well beyond the borders of the united states. >> translator: many drins are concerned about the possible effects of a fiscal cliff. the global economy faces a number of uncertainties which are making it hard to judge china's economic forecast for next year. >> some indicators are rebounding and the economy is stabilizing. >> the nikkei is down over 1% from thursday's close around 101 points. investors selling stocks. that's after the dow jones suffered more than 120 points. investors concerned about the u.s. fiscal cliff issue. let's switch to currency as well. let's have a look at the currency levels now. 79.50 to 51. euro 101.30. a possible delay in greece receiving financial aid. let's have a look at some of the regions indexes as well. sou south korea's kospi is trading down. toyota motor executives are boosting vehicles. it's said to become the production center. toyota president made the announcement in bangkok during the 50th anniversary ceremonies for the firm's thai unit. >> in th
the world's second-largest economy into the future. a complex and secretive political process will soon come to a conclusion. in a couple of hours, the communist party's new leaders will walk onto a stage in beijing and appear before the media. vice president xi jinping will likely be at the front of the line. he's expected to succeed president hu jintao as the party's general secretary. the party wrapped up its week-long national congress wednesday. the meeting is held every five years. delegates elected new members for the central committee. those members will meet thursday to choose the lineup for the party's political bureau and the core group of leaders who sit on the elite politburo committee. president hu, premier wen jiabao, and five members will retire. vice president show gin being and others are expected to remain and be joined by a new generation of leaders. analysts say xi will take over from hu as the president's general pear. president hu has held the position for tennessee years. >> translator: all party members should unite under the party leadership and with chinese charact
into a difficult first quarter in terms of the economy next year. so this is almost a situation where you can't hope for or root for any outcome. you have to let it play out and assess what its impact on the economy can be. but the risks right now are to the downside. the sad thing is that as we speak, the economy is actually doing pretty well. >> susie: that's good to hear. as you know, a number of very high-profile c.e.o.s are meeting with the president at the white house today, the c.e.o.s from companies like ibm and xerox and general electric. how much sway do you think these c.e.o.s have over the president? >> if he is smart, he'll listen to them. but that is not the constituenconstituency will eled him. the coalition that elected him supports his hard line on taxes as a percentage of the total package, and he has an obligation -- incidentally, i think an ideological belief that he has to go that way, and that's -- i think that raises the odds of a difficult -- a very difficult period here politically. and while he loyc listens to them and went through the theatrics of having met with th
which this nation was founded are the only sure guide to a resurgent economy and to renewed greatness. like so many of you, paul and i have left everything on the ield we have given all our to this campaign. (cheers and applause) i so wish -- i so wish that i had been able to fulfill your hopes to lead the country in a different direction. but the nation chose another leader so ann and i join with you to earnestly pray for him and for this great nation. >> rose: the race revealed america's shifting fault lines. it was a national conversation carried out in a few battleground states. billions of dollars poured into theampan as both sides sought to define the other as responsible for the country's economic and partisan gridlock. but when it became clear that the long race had ended, both candidates spoke of the need for moving past division. here is what the president said. >> and in the coming weeks and months i am looking forward to reaching out and working with leaders of both parties to meet the challenges we can only solve together. reducing our deficit, reforming our tax code, fix
or cared about the economy, but when it comes to legitimate rape and abortion, women stood together. >> i wish that's all it was, really, but the whole year, particularly when republicans took over so many state legislators, that's when the war on women, if you forgive me, began. you had record numbers of anti-contraceptive and and antiabortion laws, even a tax on equal pay laws, the congress with the blunt amendment on where they actually had a vote on whether or not insurance policies ought to include contraception if theoss is in disagreement. so you can talk messenger all you want to or two members who clearly revealed the rubbish in the republican party, but, let's face it, women had a whole year, and then they had the republican primary to see it big and bold -- all anti-woman, personhood -- all the things the majority of the women are clearly not for. >> okay, but let me ask you this -- >> sure. >> -- in the reformation to havo have -- of the republican party, is that going to be dropped? >> the reform? >> are the social issues going to go the way that this election said they shoul
were forced to leave beijing or placed under strict surveillance. the world's second biggest economy, china's international influence is continuing to grow. but there has been no change in the way it treats citizens who speak out. nhk world, beijing. >> one of the biggest critics weighed in, too. the dalai lama told about 130 japanese lawmakers they are wrong to fear at this bet an religious faith is promoting independence. they're urging china to stop violating rights in the region. >> in narrow minded communist officials they feel tibetan buddhist culture, buddhist faith some you see fear. that's a source of separate -- danger of separation. >> the dalai lama said tibetans are trying to preserve their culture. they're not threatening to become independent. a spokesperson for the chinese foreign ministry had little sympathy. >> translator: >> translator: the dalai lama is a political refugee aiming to defy the country in the guise of religious activity. >> hong said the government condemns japanese right wing forces that openly support the dalai lama's anti-china activities. he says
monitor is watching the fiscal cliff, but thinks the economy and the stock market will continue gaining strength. russell investment's erik ristuben joins us. >> tom: next friday's meeting at the white house over the fiscal cliff comes as credit rating agency standard and poors put the odds of going over the cliff at 15%. beth ann bovino, senior economist at standard and poor's joins us. beth anne, did you hear anything today from either the president or house speaker that gives you more or less hope about a deal before the end of the year? >> well it sounded that both the president and boehner seemed to be a little bit more interested in working together. now, again this is just one day after the election. so let's see if that holds up. it does look like there are a few olive branches out there. we'll see if it continues. >> putting the odds at one in seven, one in eight we could still go over the cliff. cow agree that that will plunge the u.s. economy into recession and an unemployment rate back over 9%. >> i'm about in agreement with them. i think there are a few details i'm looking
or the other on this issue until the economy started going south in 2008. >> hockenberry: was that an opportunity to push back on climate change, the recessio >> it sure was. >> i'm tim phillips, president of americans for prosperity. we're here in billings, montana. >> hockenberry: what part did you play? >> we certainly did tv ads, radio ads, social media. we did rallies, events, we launched something we called hot air. and we're sending a message to senator baucus and senator tester to vote no on this job-killing, tax-increasing cap-and-trade. we got a hot-air balloon, put a banner on the side of it that said, "cap-and-trade means higher taxes, lost jobs, less freedom." and we went all over the country doing events and stirring up grassroots anger and frustration, concern. >> cap-and-trade will slow the economy and cost american jobs. >> hockenberry: americans for osperity's wl-financed campaign was an aggressive one. ads that went after cap-and- trade policy... >> america can't afford the cap-and-trade tax. >> hockenberry: and said the science was a hoax. >> congress
,000 a year. and that makes no sense. it would be bad for the economy and it would hit families that are already struggling to make ends meet. fortunately, we shouldn't need long negotiations or drama to solve that part of the problem. while there may be disagreement in congress over whether or not to raise taxes on folks making over $250,000 a year, nobody-- not republicans, not democrats-- want taxes to go up for folks making under $250,000 a year. so let's not wait. even as we're negotiating a broader deficit reduction package, let's extend the middle-class tax cuts right now. let'do that right now. ( applause ) that one step, that one step would give millions of families, 98% of americans and 97% of small businesses, the certainty that they need going into the new year. it would immediately take a huge chunk of the economic uncertainty off the table. and that will lead to new jobs and faster growth. business will know that consumers, they're not going to see a big tax increase. they'll know that most small businesses won't see this increase. and so, a lot of uncertainty that
provided by: moving our economy for 160 years. bnsf, the engine that connects us. >> intel. sponsors of tomorrow. >> and by the bill and melinda gates foundation. dedicated to the idea that all people deserve the chance to live a healthy, productive life. and with the ongoing support of these institutions and foundations. and... this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> brown: the investigation that felled the head of the c.i.a. has expanded, to include a high- ranking u.s. military figure. thanews rippled outward fro the pentagon today, and across official washington. the name of u.s. marine general john allen, the top american commander in afghanistan, surfaced overnight in the scandal that began friday with david petraeus resigning at c.i.a. director. unnamed defense officials say the military is now investigating possibly, quote, inappropriate communications between allen and tampa socialite jill kelley. she had reported getting harassing emails from another woman, paula
, it was the economy that tipped the scale for the president. >> all of these religious issues, while they are important to religious voters, i think, even among religious voters, they ranked these issues a little further down on the spectrum. >> ralph reed of the faith and freedom coalition admitted that a massive mobilization among religious conservatives wasn't enough to offset the number of women, young people and minorities who voted democratic. >> i think we need to do a better job of not looking like, you know, your daddy's religious right. you know we have to be as a movement younger. we have to be more diverse ethnically. >> voters also decided several key ballot initiatives. for the first time ever, measures to approve same-sex marriage passed by referendum in maine, maryland and washington state. and voters in minnesota rejected a proposed constitutional ban on gay marriage. in massachusetts, a measure to legalize physician-assisted suicide was narrowly defeated. in california, voters decided not to abolish the death penalty. with all the acrimony around the election, many
less than $250,000 a year. that doesn't make sense. our economy can't afford that right now. certainly no middle-class family can afford that right now. >> reporter: mr. obama signed legislation extending the bush- era tax cuts two years ago, including those affecting the wealthy, but he said today things are different this time. >> well, two years ago, the economy was in a different situation. we were still very much in the early parts of recovering from the worst economic crisis since the great depression. but what i said at the time is what i meant, which is this was a one-time proposition. and you know, what i have told leaders privately as well as publicly is that we cannot afford to extend the bush tax cuts for the wealthy. what we can do is make sure that middle-class taxes don't go up. mandate, i've got one mandate. i've got a mandate to help middle-class families and families that are working hard to try to get into the middle class. that's my mandate. that's what the american people said. they said, "work really hard to help us." that's my mandate. i don't presume that becaus
momentum. >> belarus is in desperate need of reforms. the country's economy largely depends on aid from russia, but criticism can be dangerous. president alexander lukashenko simply does not tolerate dissent, so many of his opponent's field force to escape abroad. great britain granted political asylum to a former deputy foreign minister of belarus this summer. the man was sentenced to prison in belarus and had to flee because he had taken part in protests against lukashenko, but some eu countries are no longer keen to take on the belarussian regime. >> the worst thing is the boredom and the uncertainty. the asylum seekers center where he has been living the past year is 7 kilometers away from the border. the town's solitary cafe provides some welcome relief. he is here because he deserted from the belarussian army when he could no longer face the beatings from his superiors. >>ehould say we are prepared to take up arms if there is no other way to contain the mass protests. in the name of the republic of belarus. >> he has gotten help from opposition activists, help that is desperately
folks to do in order to thrive in a changing economy, you've got to do that by having relationships, by being embedded in stable communities. and in my opinion the really big issue is that when you look at mass incarceration, when you look at a lot of other social changes, when you look at family breakdown, i think that these are things that are kind of like an undertow that is shaping what we're seeing happening above the surface and i think the problem is that policy has a hard time dealing with some of these things. canake big fferce on, for example we can throw fewer people in jail and destroy fewer communities and fewer lives that way. >> california just took steps to weaken their three strikes and you're out policy. that's a step in the right direction. >> and you also have folks on both sides of the political aisle who are making progress on that. >> but in terms of washington politics it looks to me as if all the blood, sweat and tears of this campaign, all those billions of dollars ended up with the status quo. the republican leadership in washington said the day after the
what she got. if we don't do anything in the economy the market's going to show us what it's got. >> rose: tom brokaw. >> i think we have to get beyond the politics of fear. this campaign is terrifying about the other side. if that person gets in your life is all over. we've been playing by the rules of the 20th century. we now need to play by the rules of the 21st century. i agree with everything that's been said up to this point. the one step i would take beyond what david and tom said is the morning after the election i would not just reach out to the other side bud i would already have in place the private part of what i think is theimportant component going forward, the public/private partnership. you have to create a coalition outside of the beltway from the academy, from business and from the think tanks that can help you put this altogether and keep the pressure on capitol hill and keep the pressure on the agencies of government so that we can reform. i would just say one more thing and that is the most successful enterprise we have in america today is located in silicon
than 70 million americans. that's health in numbers. united healthcare. moving our economy for 160 years. bnsf, the engine that connects us. and by the alfred p. sloan foundation. supporting science, technology, and improved economic performance and financial literacy in the 21st century. and with the ongoing support of these institutions and foundations. and... this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> brown: the downfall of david petraeus showed no sign of fading into the background today. instead, there was every indication that his admission of adultery will echo far beyond the end of his career at the c.i.a. >> a personal scandal forces c.i.a. director david petraeus to... >> i want to start out with this out of the blue thunder bolt that hit washington friday. >> brown: all weekend in washington the details kept coming along with more questions. after david petraeus' sudden resignation on friday because he had had an extra marital affair quickly revealed to involve h
-product of growing our economy, energized by a simpler cleaner fairer tax code with fewer loopholes and lower rates for all. >> reporter: democratic senate leader harry reid also says he wants a quick fix for the fiscal cliff. but, he was clearly feeling empowered by a strong showing in the election. >> i want to work together, but i want everyone to understand you can't push us around. >> reporter: and raising taxes on the well-off is clearly a top priority. >> all the exit polling, all the polling we've done, the vast majority of the american people support that, including rich people. >> reporter: many republicans see the election as more of a return to the status quo and that will make negotiations on the fiscal cliff tricky. >> the discussion around taxes will have to be calibrated in a way that recognizes that there are certain red lines for both parties that probably will not be crossed. >> reporter: now that the election is over, policy makers are likely to feel more pressure to reach an agreement to ease the fiscal cliff. the public clearly does not like the automatic spending cuts that ar
Search Results 0 to 28 of about 29 (some duplicates have been removed)